https://www.taxtmi.com/caselaws?id=457719 The Appellate Tribunal for Foreign Exchange reduced the penalty imposed on the appellant for contravening sections 9(1)(b) and 9(1)(d) of the FERA, 1973, from Rs. 10 lakhs to Rs. 1 lakh. The Tribunal ordered the appellant to deposit the remaining balance within three months, adjusting the confiscated Rs. 27,000 against the penalty. This decision balanced justice by offering relief to the appellant while maintaining accountability for the contravention. en-us Tue, 06 May 2003 00:00:00 +0530 Thu, 26 Sep 2024 16:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457719 The Appellate Tribunal for Foreign Exchange reduced the penalty imposed on the appellant for contravening sections 9(1)(b) and 9(1)(d) of the FERA, 1973, from Rs. 10 lakhs to Rs. 1 lakh. The Tribunal ordered the appellant to deposit the remaining balance within three months, adjusting the confiscated Rs. 27,000 against the penalty. This decision balanced justice by offering relief to the appellant while maintaining accountability for the contravention. Case-Laws FEMA Tue, 06 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457719